Siyaram Recycling IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Dec 18, 2023Let’s have a detailed review of the company and analytics of the Siyaram Recycling IPO release date, IPO offer price, subscription, Siyaram Recycling Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 43 to Rs 46 |
| Listing At | BSE, SME |
| Min. Order Quantity | 3000 Shares |
| Listing Date | December 21, 2023 |
| Offer for Sale | Rs Lakh |
| Fresh Issue | Rs 2296 Lakh |
| IPO Size | Rs 2296Lakh |
| Tick Size | 1 |
Siyaram Recycling IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Siyaram Recycling Share Price |
Siyaram Recycling IPO – Summary
With globally accredited production capabilities and a dedication to achieving the highest industrial precision, the Company was originally incorporated as a private limited Company under the name of “Siyaram Impex Private Limited” on February 12, 2007, under the provisions of the Companies Act, 1956 with the Registrar of Companies, Gujarat, Dadra and Nagar Havelli, bearing registration number as 049999.
Further, pursuant to a Special Resolution passed by the shareholders at the Extra Ordinary General Meeting held on July 24, 2023, the name of their Company was changed from “Siyaram Impex Private Limited” to “Siyaram Recycling Industries Private Limited” and a fresh certificate of incorporation pursuant to change of name was issued by the Registrar of Companies, Ahmedabad vide certificate dated July 27, 2023.
The Promoter of this company is DWARKADHISH VENTURE PRIVATE LIMITED (FORMERLY KNOWN AS SIYARAM METALS PRIVATE LIMITED), RAMGOPAL OCHHAVLAL MAHESHWARI, BHAVESH RAMGOPAL MAHESHWARI AND MADHU RAMGOPAL MAHESHWARI. The lead manager of the issue is HEM SECURITIES LIMITED, and the Registrar of this issue is CAMEO CORPORATE SERVICES LIMITED.
Siyaram Recycling IPO Date
The opening and closing dates of Siyaram Recycling IPO are December 14, 2023, and December 18, 2023, respectively.
Siyaram Recycling IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 14th Dec | 0.05x | 8.12x | 36.64x | 20.07x |
| 2nd Day – 15th Dec | 3.56x | 26.38x | 106.57x | 59.95x |
| 3rd Day – 18th Dec | 96.43x | 597.72x | 459.11x | 385.19x |
| Shares Offered or Net Issue | 948,000 | 711,000 | 1,659,000 | 4,992,000 |
The shares subscribed by the public will be updated here.
Siyaram Recycling IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Siyaram Recycling Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | December 19, 2023 |
| Refunds Initiation | December 20, 2023 |
| Credit of Shares to Demat Account | December 20, 2023 |
| Share Listing Date | December 21, 2023 |
Siyaram Recycling IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs 43 to Rs 46
Siyaram Recycling IPO Equity Size
This Initial Public Issue of 4,992,000 Equity Shares of Rs.10 each for cash at a price of Rs 43 to Rs 46 per equity share aggregating to Rs.2296 Lakh.
Siyaram Recycling IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 4,992,000 Equity Shares of Rs.10/ each.
Issue Size: 4,992,000 Equity Shares of Rs.10 each, aggregating to Rs.2296 Lakh
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Siyaram Recycling IPO – Live Performance
The listing date of this IPO is December 21, 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Siyaram Recycling Share Price |
Siyaram Recycling IPO Grey Market Premium
The Siyaram Recycling Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Siyaram Recycling IPO – Company Overview
Subsequently, pursuant to a Special Resolution passed by the Shareholders at the Extra Ordinary General Meeting, held on August 05, 2023, their Company was converted into a Public Limited Company and consequently the name of their Company was changed from “Siyaram Recycling Industries Private Limited” to “Siyaram Recycling Industries Limited”.
With globally accredited production capabilities and a dedication to achieving the highest industrial precision, their efforts have been enduring.
Mr Maheshwari, with his visionary directives, has led Siyaram Recycling Industries Ltd. for over 15 years of flawless operations in the manufacturing sector. Under his leadership, the company has gained an impeccable reputation both domestically and internationally.
They maintain a strong commitment to surpassing their clients’ high standards and consistently strive to break the previous records.
Siyaram Recycling IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | |||
| 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Total Assets | 15,136.31 | 9,851.35 | 9,823.59 |
| *Total Revenue | 49,786.27 | 42,644.34 | 13,972.93 |
| Total Expense | 48,705.71 | 42,194.59 | 13,777.48 |
| Profit After Tax | 765.42 | 322.47 | 142.28 |
Earnings per Equity Share (in Lakh)
| 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Basic & Diluted | 5.54 | 2.34 | 1.03 |
Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 765.42 Lakh, Rs. 322.47 Lakh and Rs. 142.28 Lakh respectively.
Siyaram Recycling IPO – Promoters
The Promoter of this company is:
- DWARKADHISH VENTURE PRIVATE LIMITED (FORMERLY KNOWN AS SIYARAM METALS PRIVATE LIMITED),
- RAMGOPAL OCHHAVLAL MAHESHWARI,
- BHAVESH RAMGOPAL MAHESHWARI
- MADHU RAMGOPAL MAHESHWARI
List of Related Parties (Key Managerial Personnel)
- Ramgopal Ochhavlal Maheshwari, Chairman & Wholetime Director
- Bhavesh Ramgopal Maheshwari, Managing Director
- Madhu Ramgopal Maheshwari, Non-Executive Director
- Jaimish Govindbhai Patel, Independent Director
Siyaram Recycling IPO – Promoters Holding
- Pre-Issue Share Holding – 100%
- Post-Issue Share Holding – %
Siyaram Recycling IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 49,92,000 Equity Shares aggregating up to Rs.[●] Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Lakh |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Lakh |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 1,38,05,500 Equity Shares |
| Equity Shares outstanding after the Issue | 1,87,97,500 Equity Shares |
Siyaram Recycling IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Repayment of a portion of certain borrowing availed by their Company
- General Corporate Purpose
Siyaram Recycling IPO – Business Strategy
- Expand their domestic and international presence
- Continue to strengthen their relationships with the customers
- Focus on consistently meeting quality standards
- Focus on increasing operational efficiencies
Siyaram Recycling IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Strategically located manufacturing facilities;
- Stringent quality control mechanism ensuring standardized product quality;
- Diversified Client Base and long-standing relationship with their customers;
- Strong and diversified supplier base for sourcing raw materials;
- Experienced Promoters supported by a dedicated Management team.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 | 5.54 | 16.49% | 33.63 |
| 31-Mar-22 | 2.34 | 8.32% | 28.08 |
| Mar-21 | 1.03 | 4.00% | 25.75 |
Siyaram Recycling IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Siyaram Recycling Limited | 10 | [●] | 5.54 | 16.49% | 49,785.78 |
| Listed Peers | |||||
| Sprayking Agro Equipment Limited | 10 | 43.49 | 4.24 | 6.87% | 1,933.24 |
| Poojawestern Metaliks Limited | 10 | 35.78 | 1.05 | 8.67% | 3,176.55 |
Siyaram Recycling IPO Lead Managers
| Lead Managers |
| HEM SECURITIES LIMITED Address: 904, A Wing, Naman Midtown, Senapati Bapat Marg, Elphinstone Road, Lower Parel, Mumbai-400013, India Tel. No.: +91- 022- 49060000; Fax No.: +91- 022- 22625991 Email: ib@hemsecurities.com Investor Grievance Email: redressal@hemsecurities.com Website: www.hemsecurities.com Contact Person: Akun Goyal/Deeksha Kaku SEBI Registration Number. INM000010981 |
Siyaram Recycling IPO Registrar to offer
| Registrar to the Offer |
| CAMEO CORPORATE SERVICES LIMITED Address: “Subramanian Building”, No. 1, Club House Road Chennai-600002. Tel No.: +91 44 40020700, (5lines) Email: ipo@cameoindia.com Website: www.cameoindia.com Contact Person: K. Sreepriya Designation: Vice President & Company Secretary SEBI Registration Number: INR000003753 |
Siyaram Recycling IPO – Other Details
- Statutory Auditor – M/s. Kamlesh Rathod & Associates
- Legal Counsel to the Company – Mindspright Legal
- Bankers to the Company – NA
Siyaram Recycling IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Siyaram Recycling Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Siyaram Recycling IPO Review FAQs
Check out various FAQs related to Siyaram Recycling IPO:
What is the Issue Size of Siyaram Recycling IPO?
The Company is making an initial public offer of 4,992,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of the Siyaram Recycling IPO?
The price band for this particular IPO ranges between Rs 43 to Rs 46. As far as the face value of the share is concerned, it is Rs. 10 per share.
What is the Siyaram Recycling IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on December 14, 2023, while the closing date is set at December 18, 2023.
What is the Siyaram Recycling IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on December 19, 2023, refund initiation is on December 20, 2023, credit of shares is on December 20, 2023, and share listing date is on December 21, 2023.
What is the Siyaram Recycling IPO Listing Date?
Shares of this company shall be listed in the exchanges on December 21, 2023. The date, when the listing would be done, is stagnant on December 21, 2023.
Who is the Registrar of Siyaram Recycling IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. CAMEO CORPORATE SERVICES LIMITED. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Siyaram Recycling IPO?
Here are the promoters of this IPO – DWARKADHISH VENTURE PRIVATE LIMITED (FORMERLY KNOWN AS SIYARAM METALS PRIVATE LIMITED),
RAMGOPAL OCHHAVLAL MAHESHWARI, BHAVESH RAMGOPAL MAHESHWARI AND MADHU RAMGOPAL MAHESHWARI. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Siyaram Recycling IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Siyaram Recycling IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Siyaram Recycling Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Lakh is 765.42, 2022 is 322.47, and 2021 is 142.28.
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